CBSI warns EFTPOS merchants to stop charging customers card payment surcharges and ensure transparent pricing.

The Central Bank of Solomon Islands (CBSI) wishes to remind Electronic Funds Transfer at Point of Sale (EFTPOS) merchants who are imposing surcharges on customers paying by card, stating that this practice is unauthorised, unfair, and must stop immediately. 

CBSI has received growing concerns from consumers and commercial banks that some EFTPOS merchants are passing the merchant service fee directly to customers. Any fee charged is intended to be absorbed by the merchant as a cost of doing business, not to be charged to consumers.

CBSI supports clear, transparent and consistent pricing practices that enable customers to know the full cost of a purchase before completing a transaction. 

Electronic payments play an important role in promoting financial inclusion, reducing reliance on cash and improving the efficiency and security of the Solomon Islands payments system. 

What Merchants Need to Know

CBSI urges EFTPOS Merchants to: 

• Contact their bank for clarification, if unsure about nature and purpose of surcharge.
• Use the same pricing for cash, debit card, credit card and other accepted payment methods.
• Ensure that the prices displayed to customers accurately reflect the amount charged to customers at the point of purchases.
• Treat payment acceptance costs as normal business operating expenses.
• Do not impose card payment surcharges or additional fees at the point of sale that may confuse customers or discourage the use of electronic payment methods. 

What Customers Need to Know

If you are using electronic payment methods (EFTPOS) when paying for goods/services, you should:

• Not be charged an extra fee simply because you are using your card.
• Expect pricing to be transparent and clearly disclosed before completing a purchase.
• Ask merchants to explain any additional fee or charge appearing on a receipt or invoice.
• Report concerns regarding card payment surcharges or unexplained fees to your banks or CBSI. 

CBSI and Commercial Banks to Monitor Compliance

CBSI remains committed to promoting a safe, efficient and accessible payments ecosystem. International trends in payments regulation increasingly recognise that transparent pricing and widespread acceptance of electronic payments support both consumer confidence and economic growth. 

CBSI will continue to work closely with commercial banks to encourage fair and consistent payment acceptance practiced across the Solomon Islands and ensure these requirements are being followed. 

CBSI encourages all merchants to comply with these requirements and all customers to be aware of their rights when making card payments. 

Electronic payments should be safe, transparent, convenient, and fair for everyone.

CBSI PRESS RELEASE